how will personal IVA affect us as co. directors

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willow1

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Post by willow1 » Wed May 28, 2008 11:13 pm
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Good day to you all,

We have extensive debts that mean we are looking at an personal IVA. we are both company directors of a Ltd company that does not require an IVA as it is moving forward rapidly and within 5 years will be making a large profit margin. If we instigate an IVA on our personal financial situation, will it affect our financial status as company directors and therefore impact our company? Thanks
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Viki.W

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Post by Viki.W » Thu May 29, 2008 12:08 am
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Hey willow, welcome to the forum. An expert will be along shortly to advise you. You are in the right place for some good advice and support so hang in there. Viki X
If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
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MelanieGiles

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Post by MelanieGiles » Thu May 29, 2008 1:45 am
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Not unless you have personally guaranteed any of the debts of the limited company, in which case you would need to include those contingent liabilities into your IVAs.
Regards, Melanie Giles, Insolvency Practitioner
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